Sensex down over 200 pts as Street digests Sikka’s exit; midcaps fall

Weakness in the market continued in the first hour of trade, as the Street digested news of Infosys MD & CEO Vishal Sikka stepping down with immediate effect.

Frontline indices were in the red, but ex-Infosys reaction, the Street’s performance was steady.

At 10:13 hrs, the Sensex was down 219.85 points at 31575.61, while the Nifty was down 57.50 points at 9846.65. The market breadth was negative as 574 shares advanced against a decline of 1,274 shares, while 67 shares were unchanged.

Among the broader markets, midcaps and smallcaps saw corrective pressure as Nifty midcap fell over half a percent, while BSE mid and smallcap index fell between 0.2 and 0.5 percent. The Nifty IT index was lower by over half a percent.